Generally, home energy management systems utilize operational run time of HVAC units as a surrogate for energy usage. However, for many HVAC system applications, the use of only operational run time typically does not provide the most accurate account of the energy consumed, as other factors are unique to such a system. In some instances, the systems utilize ratings information of the individual HVAC components in the computation of energy usage. However, the ratings information are generally energy consumption estimates for a “typical” weather season, in a “typical” home, with “typical” user settings and internal loads, and “typical” weather conditions.
Accordingly, there exists a need for a system and method to more accurately estimate the energy consumption for an HVAC system.